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2021-04-05-accounts

THE HARTSHEATH CHARITABLE TRUST

REPORT AND ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2021

Charity Registration No. 702659

THE HARTSHEATH CHARITABLE TRUST

ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021

CONTENTS

Page
Reference and administrative information 1 - 2
Trustees’ Report 3
Independent Examiner's Report 4
Reeipts and payments accounts 5
Balance Sheet 6
Appendix A - B

THE HARTSHEATH CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 5 APRIL 2021

FULL NAME OF CHARITY:

The Hartsheath Charitable Trust

CHARITY REGISTRATION NO: 702659 GOVERNING DOCUMENT:

Deed of Settlement dated 13 November 1989

PRINCIPAL OFFICE:

c/o Carter Jonas LLP Canon Court North Abbey Lawn Shrewsbury Shropshire, SY2 5DE

SETTLOR: Dr M C Jones-Mortimer Dec'd. TRUSTEES:

The present Trustees are Dr M Dechazal, Mrs J Kaufmann and Miss O Kaufmann (appointed 29 January 2021) . PC Godsal retired 29 January 2021.

The statutory power of appointing new or additional trustees is vested in the current Trustees.

OBJECTS:

The Trust Fund which consists of Stock Exchange securities received as a legacy under the Will of the late Mrs E S Jones-Mortimer, is held by the Trustees upon trust to pay the income and any amounts of capital that they think fit for charitable purposes according to the law of England and Wales.

By a deed of variation dated 1 August 2008, a legacy of two holdings of quoted securities, represented by their sale proceeds of £49,499, was added to the trust assets.

The Trustees can therefore use the income of the Trust Fund and any of the capital to make donations not only to established National or Local Charities but also to individuals and institutions provided the purposes for which the gift is made falls into at least one of the following categories:

1

THE HARTSHEATH CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 5 APRIL 2021

(continued)

OBJECTS: (continued) 4 Any other purposes beneficial to the community
(e.g. anything not specifically included in the preceding three categories
but purposes must be genuinely "beneficial to the community" and
this will be strictly construed).
DONATIONS TO THE Donations may be made to the Trustees by any one at any time.
TRUST: However the value of a donation to the Trust is enhanced if it is made
out of the donor's taxed income and it is made as a Gift Aid donation,
which can be of any amount. The Trustees are able to claim from HM Revenue
& Customs the basic rate of tax deemed to have been deducted from
the donation.
FUND: The Trust's assets are available and adequate to fulfil the obligations
of the Trust.
The Trust Deed of Settlement (dated 13 November 1989) confers on the
Trustees the power to accumulate income for such period as allowed by
law.
The Trustees have therefore declared that, taking into account all the
circumstances, thet are of the view that the appropiate accumulation
period for the Settlement was 21 years from the date of its creation on 13
November 1989.
STOCKBROKERS: Punter Southall Wealth
11 Strand
London
WC2N 5HR
BANKERS: National Westminster Bank Plc
Castle Street
Conwy
LL32 8AS
ACCOUNTANTS: AD Accounts (Trusts) Limited
Rural Enterprise Centre
Vincent Carey Road
Rotherwas
Hereford
HR2 6FE

2

THE HARTSHEATH CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 5 APRIL 2021

The Trustees present their report and accounts for the year ended 5 April 2021, which have been prepared in accordance with the governing document, the Charities Act 2011, the Statement of Recommended Practice - Accounting and Reporting by Charities (published July 2014) and applicable accounting policies.

Organisation

The Trustees have delegated the day to day management of the charity to Carter Jonas LLP. None of the Trustees receive any form of direct remuneration for their work.

The Trustees have delegated the management of the investments of the charity to Punter Southall Wealth on a discretionary basis. However the Trustees review the investment portfolio on a regular basis.

Financial review

Forty-seven donations totalling £10,850 (2020: £10,350) were made in the year, the largest being of £500 to Gladstone's Library.

The Trustees were satisfied that all the donations complied with the charitable objects of the Trust.

Total net receipts before investment transactions for the year amounted to £25,994 (2020: net payments £3,193).

Net assets at 5 April 2021 totalled £221,984 (5 April 2020: £197,738) and were unrestricted as to use.

Investment policy

The Trustees hold shares in listed UK equities which are held to generate capital growth and income. The income and related tax rebates are applied to charitable donations.

The market value of investments increased during the year from £150,568 to £197,326, an increase of 31.05%.

Reserve policy

The Trustees consider it prudent to hold a 'free reserve' (i.e.uninvested net current assets) sufficient to fund unforeseen expenditure and charitable donations. At 5 April 2021 this 'free reserve' of £27,958 (5 April 2020: £11,059) was available and adequate to fulfil the obligations of the Trust.

Public benefit

The Trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

By order of the Trustees

……………………………. Dr M Dechazal (nee Kaufmann) ……………………………. Mrs J Kaufmann ……………………………. Miss O Kaufmann

20 September 2021

Trustees

3

THE HARTSHEATH CHARITABLE TRUST

INDEPENDENT EXAMINATION

FOR THE YEAR ENDED 5 APRIL 2021

Independent examiner's report to the trustees of The Hartsheath Charitable Trust

I report to the charity trustees on my examination of the accounts of The Hartsheath Charitable Trust for the year ended 5 April 2021.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no conerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr A J Davies FCCA

On behalf of A D Accounts Limited

Date: ###############

4

THE HARTSHEATH CHARITABLE TRUST

RECEIPTS AND PAYMENTS ACCOUNT

ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021

2021 2020
Appendix Unrestricted Unrestricted
Fund Fund
£ £
Receipts
Voluntary income:
Donations 29,930 783
Dividends (net) A 8,001 9,190
Interest received (gross) 1 18
Total receipts 37,932 9,991
Payments
Charitable activities
Donations (net) B 10,850 10,150
Cost of generating funds
Investment management costs 1,088 2,914
Governance costs - accountancy - 120
Total Expenses 11,938 13,184
Net Receipts/(Payments) for the year before investment transactio 25,994 (3,193)
Realised (loss)/profit on sale of investments A (1,748) 1,594
Fund Balances brought forward 197,738 199,337
Fund Balances carried forward (Page 6) 221,984 197,738

All activities during the year and the preceding year were classed as continuing.

5

THE HARTSHEATH CHARITABLE TRUST

BALANCE SHEET

AS AT 5 APRIL 2021
2021 2020
£ £ £ £
INVESTMENT ASSETS
Quoted investments at book 194,026 186,679
valuation (Appendix A)
Market value 5.4.21 £197,326
(Market value 5.4.20 £150,568)
Bank accounts and cash deposits 27,958 11,059
NET ASSETS 221,984 197,738
FUNDS
Unrestricted (Page 5) 221,984 197,738
Approved by the Board of Trustees on
and signed on its behalf by

……………………………… Dr M Dechazal (nee Kaufmann)

……………………………… Mrs J Kaufmann

……………………………… Miss O Kaufmann

20 September 2021

6

Appendix A

HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2021

Market
Historic
Value
Cost
Nominal Holding
Description
5.4.20
5.4.20
£
£
UK & OVERSEAS EQUITIES, BONDS, ALTERNATIVES
5,000
Artemis Income Fund Managers
9,095
11,588
50
Astrazeneca
3,572
2,545
50
AXA US Enhanced High Yield Bond
4,300
5,000
170
BHP Group
2,110
2,606
350
Blackrock Asian Growth
4,643
4,564
(350)
(sold 3.6.20)
-
1,000
BP
3,373
4,270
1,875
Elementis
863
3,788
( 1,118)
(sold 17.4.20)
(757)
(sold 20.4.20)
-
6,000
Fidelity Emerging Market Total Return Debt
4,650
6,234
15
Fulcrum Income (Tutman LLP)
1,307
1,455		 Realised
Historic
Market
Profit
Cost
Value
Purchases
Sales
on sale
5.4.21
5.4.21
£
£
£
£
£
11,588
12,192
2,545
3,586
5,000
5,095
2,606
3,516
5,374
810
-
-
4,270
2,898
1,199
( 2,589)
-
-
6,234
5,766
1,455
1,363		 Date
of
Payment		 Income
Received
30/6/20
31/12/20
14/9/20
29/3/21
30/6/20
8/1/21
22/9/20
23/3/21
19/6/20
25/9/20
18/12/20
26/3/21
10/8/20
8/2/21
30/04/20
29/05/20
30/06/20
31/07/20
28/08/20
30/09/20
30/10/20
30/11/20
31/12/20
29/01/21
26/02/21
31/03/21		 £
213.75
197.22
34.80
68.70
17.58
331.00
71.58
124.08
83.42
40.43
39.17
37.68
184.80
185.40
8.15
5.04
5.04
5.04
5.05
5.05
5.05
4.72
5.1
5.1
5.23
5.23

Appendix A

HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2021

Market
Historic
Value
Cost
Nominal Holding
Description
5.4.20
5.4.20
£
£
250
Glaxosmithkline
3,724
4,148
300
Goldman Sachs Japan Equity Portfolio
3,459
3,117
(115)
(sold 4.12.20)
185
225
Guinness Global Equity Income
2,816
3,260
1,000
HSBC Holdings
3,972
5,737
400
iShares Gold Producers
3,540
2,790
( 50)
(sold 21.5.20)
(40)
(sold 7.8.20)
310
450
IMI
3,258
4,794
(100)
(sold 22.12.20)
350
2,000
ITV
1,088
4,014
(2,000)
(sold 17.4.20)
-
1,500
Legal & General Group
2,396
3,220
4,000
Legg Mason RARE Global Infrastructure Inc
3,772
3,948
1,000
M & G
1,094
2,064		 Realised
Historic
Market
Profit
Cost
Value
Purchases
Sales
on sale
5.4.21
5.4.21
£
£
£
£
£
4,148
3,194
1,885
690
1,922
3,293
3,260
3,562
5,737
4,232
1,187
559
2,162
3,283
1,189
124
3,729
4,638
1,434
(2,580)
-
-
3,220
4,253
3,948
4,608
2,064
2,094		 Date
of
Payment		 Income
Received
9/4/20
9/7/20
8/10/20
14/1/21
21/12/20
12/8/20
29/1/21
11/9/20
11/9/20
4/6/20
24/9/20
30/4/20
31/7/20
30/10/20
29/1/21
29/5/20
29/5/20
30/9/20		 £
57.50
47.50
47.50
47.50
18.11
43.79
45.97
117.90
33.75
189.60
73.95
46.28
53.11
85.34
51.57
119.20
38.50
60.00

Appendix A

HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2021

Market
Historic
Value
Cost
Nominal Holding
Description
5.4.20
5.4.20
£
£
3,000
Maitland Instl Core Corp
3,091
3,177
4,925
Maitland Instl Focus Bond
4,459
5,165
6,085
Maitland Instl Asset Backed
5,686
6,969
2,715
(bought 10.6.20)
8,800
485
Matthews (Asia ex Japan)
(bought 4.6.20)
(135)
(sold 23.12.20)
350
156
Mercantile Investment Trust
(bought 17.4.20)
1,319
(bought 23.4.20)
1,475
367
National Grid
3,089
4,306
550
NB Short Duration EM Debt
4,395
5,181
400
Neuberger Berman US Equity Index
3,984
4,055
2,550
Ninety One Fund Managers Global Env
(bought 25.6.20)
25
Odey Odyssey
2,387
2,934
230
Pacific Capital North of South
(bought 5.2.21)		 Realised
Historic
Market
Profit
Cost
Value
Purchases
Sales
on sale
5.4.21
5.4.21
£
£
£
£
£
3,177
3,222
5,165
5,024
2,861
9,830
10,083
5,320
1,912
431
3,839
5,103
2,693
2,693
3,776
4,306
3,169
5,181
4,840
4,055
4,908
2,694
2,694
3,745
2,934
1,814
2,941
2,941
2,994		 Date
of
Payment		 Income
Received
29/05/20
28/08/20
30/11/20
26/02/21
29/05/20
30/11/20
29/05/20
30/11/20
2/7/20
6/10/20
31/12/20
1/4/21
3/8/20
2/11/20
1/2/21
19/8/20
13/1/21
8/4/20
6/7/20
7/10/20
7/1/21		 £
22.54
23.24
23.66
21.63
95.07
100.39
193.14
221.02
28.25
29.25
16.42
12.92
19.91
19.91
19.91
117.44
62.39
52.17
47.57
50.34
45.70

Appendix A

HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2021

Market
Historic
Value
Cost
Nominal Holding
Description
5.4.20
5.4.20
£
£
300
Prudential
2,761
3,647
70
Reckitt Benckiser Group
4,376
5,044
150
Rio Tinto
5,642
3,538
(25)
(sold 22.12.20)
125
400
Royal Dutch Shell
5,674
7,996
9,994.7368
Royal London UK Equity Income
8,639
11,529
15
RWC Nissay Japan Focus
2,378
2,159
13,500
Schroder Asian Income Maximiser
5,774
7,375
25,000
Schroder UK Income Maximiser
8,068
12,609
10,000
Schroder US Income Maximiser
4,645
5,604
41.661
Semper Strategic Focus
3,048
4,166
8.339
(bought 12.6.20)
50.000
1,000
Tesco
2,239
2,026
( 211)
(share consolidation 15.2.21)
1,211
(bought 1.4.21)		 Realised
Historic
Market
Profit
Cost
Value
Purchases
Sales
on sale
5.4.21
5.4.21
£
£
£
£
£
3,647
4,655
5,044
4,548
1,397
807
2,948
6,850
7,996
5,342
11,529
11,204
2,159
3,476
7,375
7,190
12,609
10,448
5,604
6,071
622
4,788
4,277
2,756
4,782
4,559		 Date
of
Payment		 Income
Received
15/5/20
28/9/20
28/5/20
29/9/20
16/4/20
17/9/20
22/6/20
21/9/20
16/12/20
29/3/21
30/4/20
31/7/20
30/10/20
29/1/21
29/5/20
28/8/20
30/11/20
26/2/21
30/4/20
31/7/20
30/10/20
29/1/21
19/6/20
18/9/20
22/12/20
19/3/21
16/04/20
16/07/20
16/10/20
18/01/21
3/7/20
27/11/20
26/2/21		 £
62.52
12.51
71.12
51.10
266.21
179.61
50.72
48.36
49.92
47.84
111.83
55.24
91.67
81.92
83.25
128.94
154.22
101.47
181.15
189.68
162.68
169.50
74.09
68.39
76.62
74.75
72.95
62.52
69.20
72.97
65.00
32.00
509.30

Appendix A

HARTSHEATH CHARITABLE TRUST SCHEDULE OF INVESTMENTS AND INCOME THEREON FOR THE YEAR ENDED 5TH APRIL 2021

Nominal Holding
Description
2,000
10
UBAM Positive Impact Emerging Equity
(bought 4.2.21)
30
UBS Full Cycle Asian Bond
(bought 22.12.20)
100
Unilever
2,850
Vodafone Group		 Market
Historic
Value
Cost
5.4.20
5.4.20
£
£
4,037
3,665
3,164
6,392		 Realised
Historic
Market
Profit
Cost
Value
Purchases
Sales
on sale
5.4.21
5.4.21
£
£
£
£
£
1,731
1,731
1,586
3,054
3,054
3,038
3,665
4,022
6,392
3,809		 Realised
Historic
Market
Profit
Cost
Value
Purchases
Sales
on sale
5.4.21
5.4.21
£
£
£
£
£
1,731
1,731
1,586
3,054
3,054
3,038
3,665
4,022
6,392
3,809		 Date
of
Payment		 Date
of
Payment		 Income
Received
£
36.14
36.98
37.46
37.60
116.27
113.46
4/6/20
9/9/20
20/11/20
17/3/21
7/8/20
5/2/21
150,568
186,679		 24,672
15,577		 (1,748)
194,026
197,326		 8,000.51
(Page 5)
(Page 6)		 (Page 5)

Appendix B

THE HARTSHEATH CHARITABLE TRUST

DETAILS OF DONATIONS

FOR THE YEAR ENDED 5 APRIL 2021

ABF The Soldier Charity
Action for Elders
Addington Trust
Bangor University prize
Blind Veterans
Bridget Ruth Jones -Northern Ballet School
British Disabled Angling Association
Carers Wales
Caudwell Children
Cerebra
Christ Church biochemistry student prize
Christ Church, Pontblyddyn
Claire Roberts
DASU (Domestic Abuse Safety Unit)
ERIC
Friends of Clwyd Archives
Gladstone's Library
Happy Days
Home Start, Denbighshire
Hope Parish Church
Housing Justice
ISWE
Jemma Gregory (patio paving contribution for wheelchair access)
KS Dance -Bridget Peake tuition
Llanfihangel GM, St Michael
Med Equip 4 Kids
Mold Hospital League of Friends
Morgana Warren-Jones (classical singer Master's course)
Music in Hospitals
Nightingale House Hospice
Pontblyddyn CC
Rhys Meilyr
Rhys Thomas
Shakespeare Schools Foundation
Shotton RFC
SPACE
SSAFA, The Armed Forces Charity
St Asaph Parish Church
St Cynfarch & St Mary, Llanfair DC
St Derfel’s Church, Llanderfel
St Giles Wrexham
St John’s Church, Rhydymwyn
St Michael, Abergele
St Mwrog’s Church, Llanfwrog
St Paul’s Church, Rhosemor
St Peters Llanbedr
St. Marys Whitewell PCC
St Mary’s Ysceifiog
Tall Ships Trust
Tenovus Cancer Care
The Ambulance Staff Charity (TASC)
The Police Community Clubs of Great Britain
The Sequal Trust
Ty Dewr (Salvation Army)
Ty Gobaith Children's Hospice
Wellfield Charitable Trust 1181459
Welsh Hearts
Welsh Historic Gardens Trust
White Gates Trust
Total Donations
Bangor University - prior year cheque not cashed and now cancelled
Net Donations
(Page 5)		 2021
£
250
200
400
200
200
-
-
150
150
200
250
300
250
300
200
200
500
250
200
200
-
200
200
150
-
100
250
300
200
250
400
200
-
-
-
200
250
-
300
200
-
200
-
200
200
-
300
200
200
250
200
300
-
100
300
300
200
150
150
10,850
-
10,850		 2020
£
250
-
400
-
200
250
200
150
150
200
300
300
-
300
200
200
300
250
200
200
250
200
-
-
200
100
250
-
-
250
400
-
300
300
300
-
250
200
300
-
300
-
200
-
-
200
300
-
200
250
-
300
200
100
300
150
200
150
150
10,350
( 200)
10,150